I need an adult in Public Consumption
- May 9, 2022, 5:28 a.m.
- |
- Public
Y’all, I need to get a credit card but I don’t even know where to start. Which one is… Good? For just… Charging and immediately paying off, for the purpose of upping my credit score and earning rewards? I did a couple Googles but it’s so fucking hard to find legitimate information amongst all the covert advertisements. Plus I don’t… Understand all the financial terminology and I know myself well enough to know it will take a massive effort to learn it, became it’s extremely fucking boring and frustrating and stressful to me. So I’m hoping y’all have a better baseline knowledge than myself, what with many of you being adult humans who own property and vehicles and keep children fed etc.
I’m in the US, also. I assume that matters. Haha. I don’t fucking know.
A little context: I had a credit card in my early twenties, but I misused it. I also had a $7k loan, which I got to afford moving across town/away from someone I thought might do a murder on me, and then I ALSO misused THAT. So my credit score was like, never TERRIBLE but it wasn’t good.
I’ve since paid off all my debt (which at its peak was about $10k) and comfortably live within my means. My credit score has inched its way back to “good” (it’s in the low 700s and hasn’t dipped into the 600s in about a year) but has plateaued due to my not having/using credit cards. Because Capitalist Logic!
I recently had my debit card number stolen so I had to cancel it, and it took 6 days to get my replacement card. All my autopay is hooked up to that one goddamn card, so I had no way of paying my bills ‘n’ subscriptions, except for the few that would allow me to add a bank account. And this had to happen at the beginning of the month, of fucking course! IT WAS STRESSFUL AF AND I REALIZED I SHOULD PROBABLY HAVE A BACKUP FORM OF PAYMENT BECAUSE I LOSE STUFF ALL THE TIME AND IT’S ONLY A MATTER OF TIME BEFORE MY DEBIT CARD DISAPPEARS INTO THE ETHER AGAIN.
I also wanna get my credit score to EXCELLENT, in case I ever need to buy a car or real estate or something. It’s just a good idea to care about credit, I’ve been told.
SO THAT’S THE CONTEXT. I would use the card for:
- Recurring payments, which I would immediately pay off (just to up my score)
- Plane tickets? Since they all seem to have some sort of awards program for that (and would immediately pay that off as well).
- extremely bad emergencies that manage to burn through all my savings? So, extraordinary medical issues requiring surgeries, I spose. I’m insured and all, but America.
(Sidenote: Someone remind me to get pet insurance fuck, rhizome’s recent cat health problems made me realize insurance is probably a good idea, especially with Panini’s deep desire to consume earplugs, which apparently can get lodged in a cat’s intestines and require surgery to remove. I’M VERY CAREFUL WITH MY EARPLUGS NOW BUT SHE’S SNEAKY.)
I no longer have any fear of living beyond my means and telling myself I’ll worry about it later. I’ve been through that ringer, I’ve learned my lesson.
Also I make a comfortable living wage now, and in the last 2.5 years that has been the case, my spending has NOT scaled up to my income. It’s gone up some, but seems to have plateaued without much effort, so I’m still consistently socking away savings.
So basically, I CAN own a credit card now without worrying about my impulse control making a mess of it. But uh. Whaaaaat the fuck do I doooooo nowwwwww
THANK YOU I LOVE YOU ALL GOODBYE
Chaz ⋅ May 09, 2022
If your credit is just so-so then you might not be able to be picky for now. A popular card that fits the criteria that you have would be Capital One Visa Venture One.
https://applynow.capitalone.com/?productId=16014&external_id=WWW_ACT46_ZZZ_ONL-SE_ZZZZZ_T_SEM2_ZZZZ_c_Zg_a846bad8-1142-48bf-ae17-b590443401be_586751394908_709237
This is one of many cards I have and is one of the most widely accepted cards out there.
People make it sound complicated, but just apply for the card, link your accounts to it and pay it off every month and you will see your credit score go up quickly. You don't want to carry a balance because they will beat you up with the insane interest rate. Even if its a better strategy for building your credit you're gonna end up paying for it in interest rates. You don't need to do that.
pangolin ⋅ May 09, 2022
WHY DO CATS LOVE EARPLUGS SO MUCH.
I too have very little idea about credit cards and find the options bewildering and they do this on purpose to make us just sign up for whatever!! anyway I am not to be trusted in this area. I have about 7k in credit card debt but somehow my credit score is 740 so I clearly have no idea what is going on
synapse ⋅ May 09, 2022 (edited May 09, 2022)
Edited
in 2019 my research told me the secured discover card was the best for new credi, they gave me a refund on my deposit and upped my limit within a few months, and since then I keep paying my balance and my rating has shot up without any effort
Ophidia ⋅ May 09, 2022
I don’t know my credit score and it’s probably very bad, because I rarely buy on credit. I prefer to just spend responsibly within my means and never have debt. How fucked is our system that THAT is considered the wrong way to do it?? Credit score logic is so broken, I can’t stand it.
I’ll use my credit card on big stuff like car repairs or whatnot. And just within the past year, I started using it on a couple routine things like groceries and gas, solely to fix my score, but my score is probably still very bad.
I was told that if you pay your credit card bill TOO SOON, that can hurt your score too??? Apparently you’re supposed to wait until right when it’s due to pay, don’t pay off immediately. OMFG when did “wait til the last second” become the correct strategy??
Nash ⋅ May 09, 2022
Credit scores are what they use to evaluate you if you seek additional credit. It is really not important unless you are seeking additional cards or buying something big like a car or house. The proper card really depends on your needs. I use a card that pays cashback which I apply to the principal every month. There are several companies that offer this, I use Cap One or Discover and get 2 to 5 percent cash back on everything I buy. I keep around an AMEX card simply because they will furnish insurance for rental cars whenever I need one. I buy absolutely everything with my cards, pay them off every month the minute the statement closes. My credit score hovers between 795-805, not that it matters, and would be even higher if I had a mortgage. Never be late, never carry a balance unless the wolf is at the door, and never carry a card that charges you fees of any sort.
rhizome Nash ⋅ May 09, 2022
Never be late, never carry a balance unless the wolf is at the door, and never carry a card that charges you fees of any sort.
solid advice <3
irate velociraptor Nash ⋅ May 10, 2022
I'm going to take this advice and try my best to implement it. TRY.
.cherry. ⋅ May 09, 2022
This entry made me go check my credit score- lots of adult activity happening here. They would be hella stressful only having one card and having a fraud situation pop up. Cash back cards are usually my favorite but if you’re a traveler the cards that earn you flight miles seem like a good idea too.
sarahbaby. ⋅ May 09, 2022
I asked my bank for the card with the lowest rate. They tried to trick me with cards with points, free this free that but it’s all a scam and I remained steadfast in my priorities.
One Angry Dwarf sarahbaby. ⋅ May 09, 2022
I think if I intended to use it in a long-term way, I would definitely do this. Like maybe once I get my credit score up by using a card and immediately paying it off, I'll apply for the lowest possible rate card, and THAT'S what I'll use for any emergencies that require me to keep a balance on a card.
God I hate all of this. The fact that it probably makes sense to get a credit card I don't want so I can later get a better credit card I hope I'll never need, is just... I hate the world we live in lol
rhizome ⋅ May 09, 2022
fuck whatever that first person said. i pay off my balance in full every month because paying interest is dumb as shit, and my credit score is a shiny amazing 812. DO NOT PAY INTEREST UNDER ANY CIRCUMSTANCES.
a lot of credit score is just based on the amount of time you're been using credit, so it'll climb up slowly as you 1) age, and 2) don't make stupid choices.
pick literally any card with a) no annual fee, and b) has rewards that you will use. because they will literally pay you to use your card!! which is problematic on a lot of levels!! there is no best generally, just what's best for you. the one i personally use most frequently is a bank of america travel rewards, which reimburses you for all kinds of things that are not travel.
good luck!! <3
Nash rhizome ⋅ May 09, 2022
Oh, 812! Somebody is a fancy pants! :)
irate velociraptor ⋅ May 10, 2022
All I know is the travel rewards ones aren't worth it unless you spend a LOT. I had one and used it fairly regularly and never earned enough to do shit. My ex's mom had one and she traveled all the time and always had free flights and upgrades and stuff, though.
mrsckugs ⋅ May 10, 2022
Go to CreditKarma.com they outline the cards you'd most likely be approved for and the benefits of each.
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